CoinGate, a cryptocurrency payments gateway, is going to launch a gift card store on Thursday on the Binance Mobile App. This will enable Binance users to purchase gift cards using cryptocurrencies.
Among other services, Coingate is known for its gift card store where it offers gift cards of more than 1,000 stores and brands, selling them for cryptocurrencies. The collections on its store include top brands of almost every country, which makes its services very localized.
The partnership with Binance will bring its services closer to a wider cryptocurrency community. It will allow users to purchase gift cards with any of the cryptocurrencies stored on their Binance Wallet. Earlier, Coingate integrated Binance Pay as a payment method into its gift card store.
“This partnership is making purchases with cryptocurrencies even more accessible for crypto owners, thus increasing the crypto adoption even further, which is the core mission for us here at CoinGate,” the company stated.
Bringing Crypto to Mainstream
Additionally, Coingate offers an exchange platform for buying and selling cryptocurrencies. But, its flagship product remains the crypto payment gateway that it offers to merchants for accepting payments in several cryptocurrencies.
In November, Coingate added Shiba Inu, a popular dog-themed meme token, on its platform, allowing traders and merchants to use the cryptocurrency. At that time, the company highlighted the potential of every cryptocurrency to become a ‘paying currency’.
Meanwhile, many other platforms launched peer-to-peer services to exchange gift cards for cryptocurrencies. Furthermore, it became a viable business for many countries with a collapsing economy.
